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| Provider | Service type | Compensation |
|---|---|---|
PAYCHEX, INC.8+ years Service code 15 · EIN 16-1124166 911 PANORAMA TRAIL S · ROCHESTER, NY 14625 | Recordkeeping | $13,976 |
Filed as: MERRILL LYNCH, PIERCE, FENNER Service code 15 · EIN 13-5674085 4 WORLD FINANCIAL CENTER · NEW YORK, NY 10281 | Recordkeeping | $10,719 |
Participation rate is below 70% (account-balance holders / active employees) - enrollment or auto-enroll opportunity.
Participant contribution per participant is in the bottom quintile of the peer cohort.
Assets per participant are in the bottom quintile of the peer cohort - savings-rate / match opportunity.
Fidelity bond coverage is below the ERISA section 412 10%-of-assets minimum (capped at $500,000).
Auditor signed off without reservation - the cleanest possible opinion.
| Metric | This plan | Peer set | Industry | Size |
|---|---|---|---|---|
| Avg account balance | $8,890 | $63,321-86.0% | $68,794-87.1% | $77,906-88.6% |
| Participation rate | 29.9% | 71.1%-41.2pp | 69.0%-39.1pp | 73.7%-43.8pp |
| Annual return | -10.04% | -6.50%-3.5pp | -6.37%-3.7pp | 12.16%-22.2pp |
| Employer contribution / active EE | $441 | $2,794-84.2% | $2,656-83.4% | $2,846-84.5% |
| Participant deferral / active EE | $1,255 | $4,029-68.9% | $3,941-68.2% | $4,805-73.9% |
| Admin fee / account holder | $69 | $104-34.1% | $4,934-98.6% | $133-48.1% |